Determining the given production function

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Reference no: EM131801673

Question: Production suppose that the production function for a company is given by

Q = 80K^1/4L^3/4

where Q is the output (in hundreds of units), K is the capital expenditures (in thousands of dollars), and L is the work-hours. Find ∂Q/∂K and ∂Q/∂L when expenditures are $625,000 and total work-hours are 4096. Interpret the results.

Reference no: EM131801673

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